Forex Daily Outlook – February 15, 2019

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Published: Feb 15, 2019, 09:25 UTC

EUR/USD The Euro bounced a little during the Thursday's session but got enough resistance at the 1.13 level, which kept the pair volatile. With the poor

EUR/USD

The Euro bounced a little during the Thursday’s session but got enough resistance at the 1.13 level, which kept the pair volatile. With the poor economic numbers from the US, the market is likely to favour a move to the upside and try moving towards the top of the consolidation phase to the 1.15 handle. The market is going to be choppy and there will be a lot of value hunters in this market scenario. …Read More

GBP/USD

The British Pound drifted further lower during yesterday’s session, reaching down to the 1.28 level. The pair is expected to continue trading with a back and forth momentum as the pair needs to battle a lot of concerns relating to the Brexit. The pair is now testing support at the 50% Fibonacci scale, and next major support is at the 1.27 level, which is the 61.8% Fibonacci retracement level. …Read More

AUD/USD

The AUD was a bit positive during yesterday’s session against USD, as it continued to hold above the 0.71 level. The market is likely to remain choppy and with poor economic numbers from the US, AUD is likely to gain a bit of momentum. The 0.7250 level above is massively resistive and is unlikely to be broken anytime soon given the weak fundamentals around the AUD. …Read More

USD/JPY

The pair lost much of the bullish sentiment in yesterday’s session due to poor economic numbers coming out from the United States. Also the 200 Day EMA is offering much resistance to the pair and is likely to fall further lower. Selling pressure in the pair is likely to continue and break below 110 level would send the pair towards 108 level. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.